BMO Capital Markets restated their top pick rating on shares of Tyson Foods (NYSE:TSN) in a research report sent to investors on Tuesday, May 7th, The Fly reports. BMO Capital Markets currently has a $90.00 price objective on the stock. The analysts noted that the move was a valuation call.
A number of other brokerages have also recently commented on TSN. Zacks Investment Research upgraded Tyson Foods from a hold rating to a buy rating and set a $78.00 target price for the company in a report on Tuesday, April 9th. Credit Suisse Group raised their target price on Tyson Foods from $66.00 to $74.00 and gave the company a neutral rating in a report on Wednesday, April 17th. Jefferies Financial Group restated a buy rating and set a $75.00 target price on shares of Tyson Foods in a report on Sunday, February 17th. Vertical Group upgraded Tyson Foods from a hold rating to a buy rating in a report on Thursday, January 10th. Finally, Piper Jaffray Companies raised their target price on Tyson Foods from $72.00 to $84.00 and gave the company a positive rating in a report on Monday, May 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $77.94.
Shares of NYSE:TSN traded down $4.03 during midday trading on Tuesday, reaching $76.28. 5,443,450 shares of the company’s stock were exchanged, compared to its average volume of 2,797,094. The company has a current ratio of 1.38, a quick ratio of 0.54 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $29.73 billion, a price-to-earnings ratio of 12.38 and a beta of 0.51. Tyson Foods has a fifty-two week low of $49.77 and a fifty-two week high of $83.36.
Tyson Foods (NYSE:TSN) last issued its quarterly earnings data on Monday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.08. The firm had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.25 billion. Tyson Foods had a return on equity of 16.53% and a net margin of 5.05%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.27 EPS. As a group, equities research analysts predict that Tyson Foods will post 5.99 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, August 29th. Tyson Foods’s payout ratio is presently 24.35%.
In other news, insider Chad Roderick Martin sold 6,300 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $77.24, for a total transaction of $486,612.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mary Oleksiuk sold 44,967 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $77.09, for a total value of $3,466,506.03. The disclosure for this sale can be found here. Insiders sold a total of 170,423 shares of company stock valued at $13,353,295 in the last quarter. Company insiders own 1.69% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of TSN. Marshall Wace North America L.P. acquired a new position in Tyson Foods during the first quarter worth approximately $319,000. Lumbard & Kellner LLC increased its position in Tyson Foods by 1.4% during the first quarter. Lumbard & Kellner LLC now owns 43,420 shares of the company’s stock worth $3,015,000 after buying an additional 610 shares during the period. Rehmann Capital Advisory Group increased its position in Tyson Foods by 6,668.6% during the first quarter. Rehmann Capital Advisory Group now owns 11,845 shares of the company’s stock worth $822,000 after buying an additional 11,670 shares during the period. Cerebellum GP LLC increased its position in Tyson Foods by 2.7% during the first quarter. Cerebellum GP LLC now owns 5,011 shares of the company’s stock worth $348,000 after buying an additional 130 shares during the period. Finally, Allstate Corp increased its position in Tyson Foods by 9.6% during the first quarter. Allstate Corp now owns 28,861 shares of the company’s stock worth $2,004,000 after buying an additional 2,532 shares during the period. 69.70% of the stock is currently owned by institutional investors and hedge funds.
About Tyson Foods
Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and live market hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully-cooked meats; and raises and processes chickens into fresh, frozen, and value-added chicken products.
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